Adapt IT in R98 million Aquilon buy

·12 Nov 2013

JSE listed Adapt IT, has announced that it has acquired 100% of Aquilon, a South African based Oil and Gas specialist consultancy in a R98 million deal.

This strategic acquisition will enhance Adapt IT’s expansion into Africa’s growing energy sector, strengthen the company’s presence in the Western Cape and bolster its growing SAP solutions expertise.

Aquilon, founded in 2006, designs, implements and supports SAP IS-Oil and other supply chain IT solutions in South Africa and internationally and services six of the major oil companies.

Aquilon will form part of Adapt IT’s new Energy division (specialising in Oil and Gas) and expands the Group’s operational sites to include Cape Town. Cape Town is becoming a favoured international location for Business Process Outsourcing (BPO) and offshoring as global companies seek to remain competitive.

Sbu Shabalala, CEO of Adapt IT, says the acquisition will contribute significantly to the company’s growth strategy: “The acquisition is aimed at improving our solutions and services to benefit our current and future clients, and will position the company to continue delivering meaningful long-term value to our shareholders.”

Shabalala added that a critical component of the deal was the cultural synergy and depth in management, which this transaction brings.

Adapt IT Holdings Limited has over 420 employees operating out of business divisions in Durban, Johannesburg, Pretoria and Cape Town and is led by a core team of executives.

The group provides a variety of specialised turnkey IT solutions and services to the Education, Mining & Manufacturing, Oil & Gas and Financial Services sectors.